Chinese Property Giant Shimao Faces Liquidation Petition

Xiaohua Li
By Xiaohua Li
April 9, 2024China in Focus

Another heavy blow hits China’s real estate sector. And this time, it’s not from foreign investment fleeing the country. Instead, it’s coming from a Chinese state bank.

The bank filed a liquidation petition against developer Shimao, focusing on the company’s failure to repay loans totaling $200 million.


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